Up, Down, Up, Down. Do the markets make you sea sick?
In the S&P chart below (chart as of November 15, 2011) I’ve marked some green lines that are showing the S&P’s support and resistence. If you notice we have a wedge pattern that the S&P has been trading within for the last two weeks.

I’ve [...]

The S&P recently displayed a classic Head and Shoulder pattern that we can use to determine a bottom to the markets recent decline.
In the graph below you’ll notice the head and shoulder with a neckline (support level of the two shoulders) at 1250 on the S&P. Once the S&P crashes through the neckline, then the [...]

Below is a graph of the S&P 500. On it I’ve marked the spots where the S&P found support and where it found resistence.

Forget for a moment that the US is on verge of default and that this is just normal times. The S&P is showing higher lows a bullish sign. It was showing higher [...]